Mixed-Use Retail & Apartment
For Sale
$1,650,000
5206 MAGAZINE Street, New Orleans, LA 70115
Street-level commercial space with two long-term tenants plus three apartments on a deep lot.
Property Size4,442 SF
Lot Size0.13 Acres
Price / SF$323.34
Days on Market410
Property Features for 5206 MAGAZINE Street
General Information
Standard status
Active
Size
4,442 SF
Lot size
0.13 Acres
Property subtype
Mixed Use
Additional Details
Multifamily Units
3
Building Details
Building Size
4,442 SF
Year Built
1902
Listing Agency:
O'Dwyer Realty
(504) 666-6105
Listed By:
Lisa O'Dwyer · License #995687965
Source:
Talbot-realty
Added: Jul 10, 2025
Changed: Aug 23
Last Checked: Jul 22 at 2:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of O'Dwyer Realty
Investment Insights
Based on property information with market context.
This mixed-use property totals 5,103 square feet, including 4,442 square feet of living space, situated on a deep 45' x 130' lot. Street-level frontage is leased to two long-term commercial tenants. The residential component includes three apartments: a rented 1-bedroom unit; a large, newly renovated 2-bedroom, 1.5-bath unit with a bonus office/exercise room and a 2024 updated kitchen, which is owner occupied; and a third 1-bedroom, 1-bath upper unit that is in need of a full renovation. Foundation piers were replaced in 2024.
Located along the Magazine Street commercial corridor in New Orleans, the property is zoned for mixed-use and is surrounded by restaurants, boutiques, and neighborhood amenities.
Current annual rents are stated at over $75,000, with additional income potential supported by the condition of the third residential unit.
Located along the Magazine Street commercial corridor in New Orleans, the property is zoned for mixed-use and is surrounded by restaurants, boutiques, and neighborhood amenities.
Current annual rents are stated at over $75,000, with additional income potential supported by the condition of the third residential unit.
Key Highlights
- Mixed‑use 2‑story property with 5,103 total SF, including 4,442 living SF on a 45' x 130' lot
- Street‑level commercial frontage is leased by two long‑term tenants
- Residential mix: one rented 1‑bedroom unit, one newly renovated large 2‑bedroom 1.5‑bath unit, and one 1‑bedroom 1‑bath upper unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,001
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,240,020
$1.2M
Cap Rate 7%
$885,729
$885.7K
Cap Rate 9%
$688,900
$688.9K
Market Conditions
NOI Build-Up for 5,103 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$110.2K $21.60/SF
− Vacancy
−$11.0K −$2.16/SF
EGI
$99.2K $19.44/SF
− OpEx
−$37.2K −$7.29/SF
NOI
$62.0K $12.15/SF
Area
ZIP 70115
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,240,020
Cap Rate 7%
$885,729
Cap Rate 9%
$688,900
Alternative Uses
Best Use
Mixed Use
$885.7K
$775.0K – $1.03M
NOI $62,001 @ 7.0% cap · market cap 3.76%
Second Best
Retail
$636.1K
$556.6K – $742.1K
NOI $44,528 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,242 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space with two long-term tenants plus three apartments on a deep lot.
Where is this mixed-use property located?
The property is located at 5206 MAGAZINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Mixed‑use 2‑story property with 5,103 total SF, including 4,442 living SF on a 45' x 130' lot; Street‑level commercial frontage is leased by two long‑term tenants; Residential mix: one rented 1‑bedroom unit, one newly renovated large 2‑bedroom 1.5‑bath unit, and one 1‑bedroom 1‑bath upper unit
